Spyglass Resources Corp SGLRF

Follow Up

[KathyPookey]

I do agree that this Tom Buchanan / management have messed up to a certain extent but I also think that the Dixonville unexpected downtime length and loss of production / cashflow from May to Sep of $11 million caused a lot of grief too...from what I can see 70% of this issue is behind them and their insurance will cover most of the repair costs....Buchanan's past record shows he usually finds a buyer at a decent premium and that he does maintain some amount of dividend...I can see another div cut down to 1 cent but doubt they will eliminate it completely...too many of them bought shares in Sep...one bought 144,400 at 1.50...he's not going to vote for complete div elimination...Scotia like last time probably accumulated a short position before PT cut...they actually cut PT on several oil companies on Friday after WTI hit low night before at $73...this Buchanan is now CEO of Athabasca and is on board of Pembina Pipeline...he sold his Provident Energy to them for a premium off it's distressed stock price and dividend cuts...from their Nov presentation they have a NAV of $4.40/share...if this is accurate they should be able to find a buyer at $2